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Wednesday, October 31, 2007

SALONA COTSPIN REVISITED

Action seems to be returning in Salona Cotspin (bse code : 590056). The textile industry as a whole has underperformed the market for the past one year or so due to the appreciation of the rupee against the dollar. Govt. seems to be genuinely concerned about the hardships being faced by the exporters and is taking steps to help them. Salona Cotspin has a good track record of consistently growing Net Profit figures and regular dividend payouts. Watch out for this counter, volumes are picking up. Cheers!

Thanks for visiting this site. You purchased Salona at a very high price. Recently you had a chance to book profits at 38. I had recently given a buy call on this stock at the price of 18, after which it rallied non-stop to 38. After the quarterly results were declared, which were not good, I had clearly advised people to book profits in this stock in my message posted on moneycontrol.

I feel bad for you that you bought this stock so late and at such a high price. I had given the reco around 18 levels, and 34 should have been a good level to exit. You should follow my comments closely on moneycontrol. I had clearly told people to book profits after the dismal quarterly results. However, the textile sector can get some sops from the govt. to counter the appreciating rupee against the dollar. So all is not lost in this counter yet. The Operator may take the price up again if he wants.....one can't really predict the operator moves, which are often contrary to fundamentals. You may get a chance to exit at higher levels.

About Me

Hi there!
Thanks for visiting my blogspot. I live in India but consider myself a World Citizen. I have varied interests ranging from the Stock Markets, Astrology to Acting/Writing in Movies. Hope we can share our views and interact with each other through this website.
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Navin

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